openPR Logo
Press release

IMD 2010 World Competitiveness Yearbook rankings Singapore, Hong Kong and the USA come out on top

05-21-2010 11:34 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMD Business School

IMD Logo

IMD Logo

May 19, 2010

For the first time in decades, Singapore (1) and Hong Kong (2) have topped the USA (3) in IMD’s World Competitiveness Yearbook rankings. They are so close, however, that it would be better to define them as the leading “trio”. In the first 10 places: Australia (5), Taiwan (8) and Malaysia (10) also benefit from strong demand in Asia. Switzerland (4) maintains an excellent position characterized by strong economic fundamentals (very low deficit, debt, inflation and unemployment) and a well-defended position on export markets. Sweden (6) and Norway (9) shine for the Nordic model, although Denmark (13) surprisingly loses ground, in particular due to the pessimistic mood expressed in the survey.

Not surprisingly Germany (16) leads the larger “traditional” economies such as the UK (22), France (24), Japan (27) and Italy (40). Despite a significant budget deficit and growing debt, Germany’s performance is driven by strong trade (second largest exporter of manufactured goods), excellent infrastructure, and a sound financial reputation. It was also to be expected that China (18) would lead the other BRIC nations, followed by India (31), Brazil (38) and Russia (51). And of course the credit-worthiness storm that affects Southern Europe acts as a drag on the performance of Spain (36), Portugal (37) and Greece (46).

(When will nations revert to a “bearable” public-debt level of 60% of their respective GDP?)

The largest “old” industrialized nations – from Japan to the UK – will all suffer a debt curse, in the worst case lasting until 2084. Nowadays, budget deficits are soaring and it is estimated that the average debt of the G20 nations, for example, will climb from 76% of their combined GDP in 2007 to 106% in 2010. Although the “great recession” is over, the consequences of the crisis will continue to be felt for quite some time.

The quality of debt depends both on the collateral and the capacity to repay. In short, countries such as Greece, Portugal and Spain have a credibility problem today not only because they have a debt crisis, but also because they lack the means to adequately repay (growth rate, current account balance, investments abroad, etc). Other “sinners” (mostly the large industrial nations) have less of a credibility problem: in their case debt is a cost that will limit their competitiveness and the purchasing power of their people.

“The Debt Stress Test provides an early simplified indicator of the magnitude of the public debt issue for each nation,” states IMD Professor Stéphane Garelli, Director of the IMD World Competitiveness Center. “What matters is not only the absolute size of public debt but also the length of time required to absorb it. In the end, debt-stricken nations may suffer severe losses in competitiveness and standards of living.”

Watch videos, download the full press releases and learn more about the 2010 World Competitiveness Yearbook.

IMD is consistently top-ranked among business schools worldwide. With more than 60 years’ experience, IMD takes a real world, real learning approach to executive education. IMD offers pioneering and collaborative solutions to address clients’ challenges. Our perspective is international – we understand the complexity of the global environment. Real-impact executive learning and leadership development at IMD enables participants to learn more, deliver more and be more.

Ch. de Bellerive 23
P.O. Box 915
CH-1001 Lausanne, Switzerland

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release IMD 2010 World Competitiveness Yearbook rankings Singapore, Hong Kong and the USA come out on top here

News-ID: 132548 • Views: 2661

More Releases from IMD Business School

Lausanne, Switzerland October 4, 2010 IMD launched today an interactive online contest called Go Beyond What You Think is Possible. Unique to the education sector, the contest gives participants the chance to win an executive education program and become a part of IMDs alumni network. The contest is live at web site. Go Beyond What You Think is Possible is designed around IMDs values: Open, Collaborative and Pioneering. The
Van Oord family establishes new IMD MBA scholarship for candidates from developi …
May 6, 2010 The van Oord Family Association, in charge of the charity activities of the family, and the IMD MBA program announced today the creation of the van Oord Scholarship. According to Jan Kornelis van Oord, Chairman of the Charity Committee of the Family Association, the objective is to provide partial IMD MBA tuition fees for a candidate from a developing country whose advancement / progress has been strongly influenced by
IMD and EPFL in Lausanne, Switzerland to host 30th annual Babson College Entrepr …
The 30th annual Babson College Entrepreneurship Research Conference (BCERC), co-sponsored by IMD, a top-ranked business school based in Switzerland, and the École Polytechnique Fédérale de Lausanne (EPFL), is scheduled for June 9 - 12, 2010, in Lausanne, Switzerland. The BCERC, widely considered the premier conference for entrepreneurship research, was established in 1981 to provide a dynamic venue where academics and real-world practitioners link theory and practice, and to encourage and

All 4 Releases

More Releases for Logo

Logo Design Services in the USA
Websites, businesses and brands are all much more than just words and products—they’re also images and art. Graphic design is an integral part of any business and that’s as true for your company’s image as it is for your marketing. AndWeSupport Offers Best online Logo Design services in the USA, Art Service, Vectorization Service, Logo Design, Vector Design, Vector conversions, photo vectoring & more!. Get first 10 vectorized image for FREE. Colorful,
Logo Design Agency in UK | Logo Champ
There are piles of agencies in the UK Which are providing the logo design services yet our Logo design agency is very renown in the UK on account of we have a plethora of experienced employees who are giving the proper time to our clients and they all are very satisfied our agency. On the other hands, we have millions of customer all around the world who are with us since
NH-ISAC Unveils New Logo
Kennedy Space Center, FL, July 19, 2016 – The National Health Information Sharing and Analysis Center, (NH-ISAC), a member-owned non-profit that is the health and public health sector’s trusted community for sharing cyber and physical security information, has unveiled a new logo. Using a blue globe and text and a gold EKG line, the logo better reflects the NH-ISAC today as a global community focused on healthcare security. “Our new Unveils New Logo, the leading online retailer specializing in bbq grills, patio furniture, firepits, gas logs, and more, has recently changed their corporate logo. With this new marketing concept, aspires to reinvent itself by changing its design to reflect its new branding. " is committed to growing and learning as a company." says their Executive Coordinator, Christine Assaf. "Our new logo reflects on what our company has become in the past 11 years;
Axiom Consulting Unveils New Brand, Logo
For Release Media Contact: Rodger Roeser, APR The Eisen Agency
Virtual Internet reveals new logo
London, UK, 15 November 2010: Virtual Internet has redesigned its logo as part of a full brand restructure taking place at the moment. The original VI logo, which has been used for 15 years, is made in 2 monochrome colours. The new logo has the same shape but rather prominent colour modifications that make new version look much more fresh and modern. The new look and feel aims to reflect the brand’s